So what gives? Are gold engagement rings a "thing"? Should we expect gold bands for our own engagements? We asked some industry experts for their take on the trend, including the maker of Miley's bauble, Neil Lane.

"I think we are seeing a beginning trend," Lane told The Huffington Post. "The yellow gold adds a softness and touch which brings it back to the 19th century, which was a more romantic era."

Prerna Balani of Chopard USA also sees the old-school glamour as part of gold's appeal. "I think the reason we are seeing a shift towards the popularity of gold engagement rings and wedding bands is not only because of the sentiment of glamour and allure that Hollywood creates," she tells us, "but because they do indeed feel and look more timeless and classic."

Plus, she adds, "In the past several years we have also noticed a strong rise in the popularity of gold watches, and women want to create a consistent look."

So will gold ever topple platinum or white gold as the dominant ring material of choice? Nah, says Lane. "There's a purity associated with the use of white gold and platinum which has been popular for over 100 years in America. I don’t see that ever changing."

Phew, because if we're being honest, we're more platinum fans ourselves. But we can't deny that Miley's new ring is gorgeous.

Are you a fan of gold engagement rings or even own one yourself? Sound off in the comments!